Crown Holdings, Inc. (NYSE:CCK) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC cut its position in shares of Crown Holdings, Inc. (NYSE:CCK) by 27.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,155 shares of the industrial products company’s stock after selling 1,945 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Crown were worth $475,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. raised its stake in shares of Crown by 2.1% during the 4th quarter. Federated Hermes Inc. now owns 14,533 shares of the industrial products company’s stock worth $1,338,000 after buying an additional 296 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Crown by 4.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 7,472 shares of the industrial products company’s stock worth $688,000 after acquiring an additional 300 shares during the last quarter. Steph & Co. lifted its holdings in shares of Crown by 151.3% in the fourth quarter. Steph & Co. now owns 3,144 shares of the industrial products company’s stock valued at $290,000 after purchasing an additional 1,893 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Crown by 245.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,808 shares of the industrial products company’s stock valued at $5,784,000 after purchasing an additional 44,630 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of Crown in the fourth quarter valued at approximately $253,000. 90.93% of the stock is currently owned by hedge funds and other institutional investors.

Crown Trading Up 2.3 %

CCK stock opened at $79.42 on Tuesday. Crown Holdings, Inc. has a 52 week low of $69.61 and a 52 week high of $96.35. The company has a market cap of $9.59 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.63 and a beta of 0.91. The company has a quick ratio of 0.77, a current ratio of 1.15 and a debt-to-equity ratio of 2.34. The business has a fifty day simple moving average of $76.82 and a 200-day simple moving average of $82.75.

Crown (NYSE:CCK) last announced its quarterly earnings results on Tuesday, February 6th. The industrial products company reported $1.24 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.19). The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.96 billion. Crown had a return on equity of 25.75% and a net margin of 3.75%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.17 earnings per share. On average, equities research analysts expect that Crown Holdings, Inc. will post 5.9 EPS for the current year.

Crown Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.25 per share. This is an increase from Crown’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 1.26%. The ex-dividend date was Wednesday, March 13th. Crown’s payout ratio is currently 26.60%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CCK shares. Royal Bank of Canada reduced their target price on Crown from $110.00 to $97.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Wolfe Research assumed coverage on Crown in a research report on Friday, March 1st. They issued an “outperform” rating and a $102.00 price objective on the stock. Morgan Stanley started coverage on Crown in a research report on Monday, March 18th. They set an “equal weight” rating and a $87.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of Crown from a “neutral” rating to an “overweight” rating and set a $85.00 target price on the stock in a report on Wednesday, February 7th. Finally, Truist Financial reaffirmed a “hold” rating and set a $88.00 price target (down from $100.00) on shares of Crown in a research note on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.21.

Crown Company Profile

Crown Holdings, Inc, together with its subsidiaries, engages in the packaging business in the United States and internationally. It operates through Americas Beverage, European Beverage, Asia Pacific, and Transit Packaging segments. The company manufactures and sells recyclable aluminum beverage cans and ends, glass bottles, steel crowns, aluminum caps, non-beverage cans, and aerosol cans and closures.